Structure of OP Financial Group and OP Corporate Bank Group

In terms of operations and ownership, OP Corporate Bank belongs to OP Financial Group. Established in 1902, OP Financial Group is a financial services group based on a cooperative foundation. OP Financial Group is made up of OP cooperative banks and their central cooperative (OP Cooperative) as well as a number of subsidiaries and affiliates.

The amalgamation of deposit banks comprises OP Cooperative (the central cooperative) and its member credit institutions, such as OP Corporate Bank, OP Financial Group member cooperative banks and financial institutions and service companies over which they exercise control. OP Cooperative Consolidated comprises OP Cooperative, which acts as the parent entity, and entities majority-owned or wholly-owned by the parent institution or any of its subsidiaries. OP Corporate Bank with its subsidiaries is part of OP Cooperative Consolidated and is a subsidiary wholly owned by OP Cooperative. OP Corporate Bank acts as the central financial institution for OP Financial Group OP cooperative banks.

The central cooperative is obliged to support its member credit institution in order to prevent it from being placed into liquidation and is liable for its member credit institution’s debts which cannot be paid using the member credit institution’s capital. Each member credit institution, for its part, is liable to pay a proportion of the amount which the central cooperative has paid to another member credit institution as part of support action or to a creditor of such member credit institution in payment of an amount overdue. In the case of the central cooperative’s default, a member credit institution has unlimited refinancing liability for the central cooperative’s debts.

OP Financial Group’s core values and principles governing corporate responsibility and good corporate governance also guide the operations of OP Corporate Bank. 

More information on OP Financial Group's structure can be found in OP Financial Group’s Corporate Governance Statement.

OP Corporate Bank’s governance structure

The only shareholder of OP Corporate Bank, OP Cooperative, exercises the decision-making power of shareholders at the General Meeting. The General Meeting elects the Board of Directors and auditors, for example. Instead of the General Meeting, a shareholder may make a written shareholder decision on a matter within the powers of the General Meeting. The Board of Directors is in charge of the company’s strategic management. Responsibility for operational management rests with the President and CEO appointed by the Board of Directors.